Pictet Asset Management Holding SA Has $1.85 Million Stock Position in Ciena Co. (NYSE:CIEN)

Pictet Asset Management Holding SA raised its holdings in shares of Ciena Co. (NYSE:CIEN) by 10.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 21,862 shares of the communications equipment provider’s stock after buying an additional 2,026 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Ciena were worth $1,854,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Vanguard Group Inc. raised its stake in Ciena by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 15,316,640 shares of the communications equipment provider’s stock valued at $1,299,004,000 after purchasing an additional 139,941 shares during the last quarter. State Street Corp lifted its stake in shares of Ciena by 1.2% in the third quarter. State Street Corp now owns 4,439,478 shares of the communications equipment provider’s stock valued at $273,427,000 after buying an additional 53,078 shares during the period. Geode Capital Management LLC grew its position in Ciena by 1.4% during the third quarter. Geode Capital Management LLC now owns 2,408,014 shares of the communications equipment provider’s stock worth $148,348,000 after buying an additional 33,074 shares in the last quarter. Charles Schwab Investment Management Inc. increased its stake in Ciena by 0.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 959,831 shares of the communications equipment provider’s stock valued at $81,403,000 after acquiring an additional 4,315 shares during the period. Finally, Vaughan Nelson Investment Management L.P. raised its holdings in Ciena by 21.8% in the 4th quarter. Vaughan Nelson Investment Management L.P. now owns 799,546 shares of the communications equipment provider’s stock valued at $67,810,000 after acquiring an additional 143,350 shares in the last quarter. 91.99% of the stock is owned by institutional investors.

Ciena Stock Down 4.7 %

Shares of CIEN opened at $53.53 on Friday. The company has a market capitalization of $7.61 billion, a P/E ratio of 93.91, a PEG ratio of 1.54 and a beta of 1.15. Ciena Co. has a one year low of $43.30 and a one year high of $101.44. The business’s 50 day simple moving average is $75.40 and its 200-day simple moving average is $74.08. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.55 and a quick ratio of 2.72.

Insiders Place Their Bets

In related news, CEO Gary B. Smith sold 6,800 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $85.29, for a total value of $579,972.00. Following the completion of the transaction, the chief executive officer now owns 418,949 shares in the company, valued at $35,732,160.21. The trade was a 1.60 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Brodie Gage sold 350 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $85.91, for a total value of $30,068.50. Following the completion of the transaction, the senior vice president now owns 49,547 shares in the company, valued at $4,256,582.77. The trade was a 0.70 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 66,200 shares of company stock valued at $4,921,513. 0.93% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

CIEN has been the topic of several recent research reports. Bank of America raised Ciena from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $70.00 to $95.00 in a report on Friday, December 13th. Northland Securities raised shares of Ciena from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $60.00 to $75.00 in a report on Wednesday, March 12th. Northland Capmk raised shares of Ciena from a “hold” rating to a “strong-buy” rating in a report on Wednesday, March 12th. Needham & Company LLC lowered their target price on shares of Ciena from $95.00 to $90.00 and set a “buy” rating on the stock in a research note on Wednesday, March 12th. Finally, Stifel Nicolaus restated a “buy” rating and set a $82.00 price target (up previously from $75.00) on shares of Ciena in a research note on Tuesday, December 10th. Four analysts have rated the stock with a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.38.

Ciena Company Profile

Ciena Corporation provides hardware and software services for delivery of video, data, and voice traffic metro, aggregation, and access communications network worldwide. The company’s Networking Platforms segment offers convergence of coherent optical transport, open optical networking, optical transport network switching, IP routing, and switching services.